Egyptian groups in new car financing JV

Cairo, July 2, 2014

Cairo-based Ezz Elarab Automotive Group has joined hands with Contact Auto Credit, one of Egypt’s leading financial service providers, to launch a new financing company, Ezz Financing.

Ezz Financing is set to provide the Egyptian market with the most flexible and easiest financing schemes to help people own their dream car, said a senior official.

“Ezz Financing highlights our strategy of continuously introducing innovative products and services to the Egyptian market. We see untapped demand for such an offering and we’re confident it will be a great success,” remarked Hesham Ezz Elarab, the president of Ezz Elarab Automotive Group of Companies.

Said Zaater, the managing director, Contact Auto Credit, said: "We’re delighted to be partnering with Ezz Elarab, one of the most respected names in the Egyptian automotive industry for this new venture."

"Ezz Financing’s flexible terms and streamlined application process, will enable more prospective buyers to own the car of their dreams," he added.

According to him, the applications are available at all Ezz Elarab showrooms including its main showroom in Abu Rawash, as well as Agouza and Nasr City.

"Ezz Financing has made owning a car extremely simple. The approvals can be obtained in as fast as 3 business days, as long as applicants have a valid bank account," he stated.

Once approved, Ezz Elarab will take care of the car registration on the applicant’s behalf, assured Zaater.

"The financing terms can go up to five years of instalments and the streamlined application process nearly guarantees every prospective buyer is approved," he added.-TradeArabia News Service